Boyle Investment Co.’s conspicuous return to local residential development, highlighted by its $4.3 million purchase of the remaining 168 acres at Spring Creek Ranch in Collierville, heralds a long-awaited resurgence of the local housing market.

Boyle now claims ownership and development rights over the remaining 340 lots in the high-end development, which it plans to fully develop in multiple phases over the next 10 years. After a company-wide hiatus from residential development, Boyle vice president Gary Thompson is well-prepared to pick up at Spring Creek where he left off.

“We haven’t done any residential construction since 2008,” Thompson says. “We’ve been tending our fields for when it rained again, and I think we’ve reached an equilibrium where people are following what others are doing.”

Thompson has been intimately familiar with Spring Creek since 2001, when he helped plan the incipient development. Boyle came on in 2006 to assist the David Meyer family in developing the project’s first phase of homes; it was from the Meyer family’s partnership, Spring Creek LLC, that Boyle subsidiary SCR Bravo Investments LLC purchased the remaining acreage.

Lots range in size from 0.22 acres to five acres, with prices starting at $87,000. Home prices start at $300,000 on the smallest lots. On the larger lots within the gated neighborhoods of The Retreat and The Estates, homes are likely to far exceed the $1 million mark.

Seeking to apply lessons learned from the housing crash and its subsequent fallout, Thompson says the company has plans for speculative building, but any such activity will be conservative.

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